Workplace relations, unemployment and finance-dominated capitalism

This paper considers the interconnections between the nature and organization of work and the level of unemployment. We consider how actions taken at the workplace level can impede as well as facilitate the reduction in unemployment. We also consider how the workplace may be reformed to overcome some of the obstacles, economic as well as political, to full employment. Finally, we examine the impacts of the current finance-dominated capitalism on work organization and workers. Our view is that financialization represents a major barrier to full employment, not only because of its tendency to limit real investment but also because of its negative effects on the bargaining power of workers.